Boss Energy managing director Duncan Craib said the company’s latest financial results were “outstanding”, emphasising the Honeymoon team has “done exactly what we said we would do”.
Less than a year after commencing uranium production at its Honeymoon operation in South Australia, Boss reported its first positive free cashflow in its March quarterly report.
Commercial production officially began at the Honeymoon project on January 1 2025. Since then, Boss has continued to scale operations, most recently bringing Wellfield B3 and NIMCIX column 3 online in March. Columns 1 and 2 are operating at full design capacity.
In its March quarterly, Boss reported $229 million in liquid assets and remains debt-free. Uranium sales totalled 150,000 pounds at an average realised price of $133 per pound (lb), with cash received for 268,000lbs.
“This was a pivotal quarter for Boss as we started generating free cashflow at Honeymoon,” Craib said.
“This milestone is the result of the highly successful ramp up, which saw production and costs meet or exceed our guidance.
“Importantly, we generated robust margins at current prices, demonstrating the strength of Honeymoon in the current market and the project’s immense upside on the back of future increases in the uranium price as the market tightens.
“Our success in delivering free cashflow within a year of starting production reflects the skills and commitment of our people, who have worked tirelessly to ensure we meet our undertakings to the market.”
The quarter also saw Boss expand its growth pipeline. The company secured an option to earn up to 80 per cent of Eclipse Metals’ Liverpool uranium project in the Northern Territory and increased its stake in Laramide Resources – focused in Queensland – to nine per cent.
